International Comparison Program

The overall mandate of the ICP governance framework (PDF) is to ensure that the global, regional, and national efforts to produce reliable purchasing power parity (PPP) estimates and related measures of real expenditures adhere to approved policies, protocols, methodologies, and quality assurance standards and that the estimates are produced efficiently, in keeping with available resources.

The ICP’s governance structure comprises the United Nations Statistical Commission (UNSC), the Governing Board, the Technical Advisory Group (TAG), and the Inter-Agency Coordination Group (IACG). Within this scheme, the global implementing agency, the regional implementing agencies, the Statistical Office of the European Union (Eurostat), the Organisation for Economic Co-operation and Development (OECD), and the national implementing agencies carry out the various activities to coordinate and implement the program.

The United Nations Statistical Commission (UNSC) is the ultimate stakeholder of the ICP, deciding the frequency and operational modality of the Program. The UNSC constitutes the ICP Governing Board, ensuring adequate representation of countries and multilateral organizations. 

SESSIONS

The ICP Governing Board (GB) is a strategic and policy-making body, which puts forth the policies and protocols that govern the production of regional and global PPP estimates; approves the technical research agenda and methodology for producing PPPs; reaches out and demonstrates the value of the ICP to policy makers in order to ensure that the program is included in the regular national statistical work and to increase national funding for the ICP.

MEETINGS | MEMBERSHIP

The ICP Technical Advisory Group (TAG) is a technical body, which assures methodological soundness and overall quality of the PPP estimates; ensures transparency of the PPP estimation process; and supports the establishment of a permanent and more frequent ICP. The TAG, in collaboration with the IACG, sets forth a technical research agenda to inform future ICP comparisons, for the Governing Board’s review and approval. The TAG forms Task Forces on specific topics and invites recognized experts on the practical application of index numbers, PPPs, price statistics and national accounts to take part in them, as needed, to develop concrete proposals to address the various research agenda items. 

MEETINGS | MEMBERSHIP | TASK FORCES

The ICP Inter-Agency Coordination Group (IACG) is a coordinating body, which collaborates on establishing timetables and work plans; develops common standards and protocols; and prepares cooperatively operational guidelines and materials. The IACG comprises the World Bank, the regional implementing agencies, Eurostat, OECD, and the International Monetary Fund (IMF).

MEETINGS

The ICP Global Implementing Agency (GIA), the World Bank, is responsible for establishing the ICP Global Office, which supports the ICP governance framework and undertakes the global coordination and implementation of the ICP, including carrying out the day-to-day management of the global program, serving as the secretariat of the governance bodies, and producing and disseminating global ICP results.

The ICP Regional Implementing Agencies (RIAs) coordinate and implement the regional ICP comparisons, and produce and disseminate regional ICP results. Eurostat and OECD undertake their permanent PPP programme and produce and disseminate its results.

Information on organizations acting as RIAs is available under Regions.

The ICP National Implementing Agencies (NIAs) are responsible for planning and implementing national ICP activities, including carrying out the price surveys and compiling the national account expenditure data. 

Donors financially support the implementation of the ICP. Current donors include the World Bank, the IMF, and the regional development banks and implementing agencies. Additionally, Eurostat and OECD fund their permanent PPP programme.

ICP Annual Reports for 2019 and 2020 outline the governance and coordination, cycle implementation, research, advocacy and knowledge, data uses, funding and resources, and risks and mitigation measures. 

Historical Governance Structures

• ICP 2011 Governance Structure and Meetings
• ICP 2005 Governance Structure and Meetings

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Regional Implementing Agencies (RIAs) coordinate and implement the regional ICP comparisons, and produce and disseminate regional ICP results. Eurostat and OECD undertake their permanent PPP programme and produce and disseminate its results.

The ICP National Implementing Agencies (NIAs) are responsible for planning and implementing national ICP activities, including carrying out the price surveys and compiling the national account expenditure data. Below is a list of participating economies for the ICP 2021 Cycle.